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A blog to help freelancers with taxes - Collective

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Tax Tips

7 Best Mileage Tracking Apps for Solopreneurs in 2026

Every client meeting, supply run, and job site visit adds miles to your odometer. Those miles translate directly…

Aug 19, 2026 · 10 min read
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5 Self-Employed Tax Mistakes that Cost You Big Time

Raise your hand if you’d rather host a luncheon with Pennywise the clown than deal with your self-employed…

Apr 3, 2020 · 7 min read
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7 Things You Need to Do to Prepare for Your Self-Employed Taxes

It’s tax season, and you know what that means: doomsday is upon us! The earth is cracking, fire…

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What Your Creative Business Can Write Off: The Complete Tax Deduction List

Every creative pays for tools, space and skills to do the work. Most of those costs are tax…

Jul 3, 2019 · 10 min read
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How to File your Freelance Taxes (and Save Money)

You’re a freelancer, getting stuff done, capturing new leads, and even finding time to post the occasional selfie…

Apr 7, 2019 · 16 min read
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Six Pro Tips for Freelancers to Save Big on Taxes

Filing your taxes as a self-employed freelancer might seem like a Y2K level disaster at first. But, once…

Mar 8, 2019 · 13 min read

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First, tell us about your business

Net profit = Total revenue - total expenses

  1. Find total revenue. Add up all money your business earned from sales of goods or services during the year.
  2. Subtract your expenses. Deduct all business costs like supplies, rent, utilities, software, contractor payments, and loan interest.

An estimate is fine, you don't need exact figures.

W2 employees are people on your payroll

You withhold income tax, Social Security, and Medicare from their paychecks, and they get a W-2 form from you at the end of the year.

Don't count yourself (even if you pay yourself a salary) or 1099 contractors and freelancers.

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We are experts in the unique needs and challenges of self-employed people and know that our confidence gives others confidence, too. Reach out to say hello and join our team.

We are experts in the unique needs and challenges of self-employed people and know that our confidence gives others confidence, too. Reach out to say hello and join our team.

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Collective provides a suite of tools, back-office support, and general information. Our services are not intended as tax, legal, or professional advice.

* Savings estimates reflect the average 2023 federal self-employment (SE) tax savings for Collective members with an S Corp tax election, based on business profits that would've otherwise been subject to SE tax. Actual savings will vary based on individual circumstances.

** Based on data sourced from Shopify blog, QBO Essentials, QBO Live, Gusto, Taxfyle, Intuit "Tax Pro" Research, LegalZoom and JustAnswer.com as of August 2025.

† Individual tax return packages are billed as an annual, one-time add-on fee.

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